As per newly released report from Absolute Market Insights (AMI), the global IT service software market was valued at US$ 5591.12 Mn in 2020 growing at a CAGR of 14.56% over the forecast period (2021 – 2030), owing to rising demand for IT service software for handling IT tickets and customer support amongst other factors.

According to Absolute Markets Insights, large organizations accounted for the highest share in the global IT service software market in 2020. The higher share can be attributed to the greater IT budget amongst large companies, especially in sectors such as banking, financial services and insurance, and IT and telecommunication. Furthermore, these companies have a strict policy with regards to data privacy, and many companies rely on on-premise deployment models for greater privacy. These companies also need to handle numerous IT service queries each day. The customer service expectations are also rising, based on studies. A report showed that around 54% of the customers had higher expectations from large companies when it comes to customer service handling, as compared to the year before. Hence, large companies are increasingly relying on IT service solutions for IT ticket optimization.

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The COVID-19 pandemic has impacted business operations in numerous countries. The spread of the coronavirus has forced companies to work remotely as a result of the lockdown and social distancing mandates by government bodies. Hence, IT operations and services have seen a massive growth during the pandemic period. This has resulted in a greater adoption of IT service solutions by companies of all sizes to cater to the growth in customer demand. Remote IT support systems are gaining immense popularity in the last 15 months. Companies are largely relying on cloud-based IT service software for catering to its IT service needs, as the Software-as-a-Service (SaaS) model allows them to avail the software on a monthly or yearly subscription basis, thereby reducing the load of the companies. Hence, the pandemic is expected to have a positive impact on the global IT service software market in the coming years.

Global IT Service Software Market

By Offerings

  • Solutions
  • Services

By Deployment

  • Cloud
  • On Premise

By Organization Size

  • Small and Medium Organizations
  • Large Organizations

By Application

  • Incident/Change/Problem Management
  • Configuration Management
  • Request Management
  • Performance Management
  • Others

By Industries

  • Education
  • Healthcare
  • Banking, Financial Services and Insurance
  • Information Technology and Telecommunication
  • Retail and Consumer Goods
  • Food and Beverages
  • Media and Entertainment
  • Travel and Hospitality
  • Energy and Utilities
  • Oil and Gas
  • Automotive
  • Manufacturing
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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